Oil is up more than 3% this morning, with WTI approaching $90 a barrel.

At 8:47 am (Brasilia time) this Wednesday (22), the September contract of WTI crude oil recorded a significant increase of 3.53% in New York Mercantile Exchange (Nymex), quoted at US$ 87.32/barrel. The contract for the same month for the Brent It advanced 3.77% in Intercontinental Exchange (ICE), trading at US$94.42/barrel. So far this week, contracts have accumulated gains of 7.01% and 7.45%, respectively. 

In the last trading session (21), WTI rose 2.25%, to US$ 84.34/barrel, while Brent recorded a gain of 2.00%, to US$ 91.01/barrel. 

This morning, fuel prices are at their highest levels in almost two months, driven by market concerns about a possible disruption to supply routes from the Middle East.

During the night, the United States military announced the 11th round of consecutive night strikes against Iran, shortly after the Kuwaiti government reported that its air defenses were intercepting drones sent by the Persian country. 

Furthermore, the market continues to fear the extension of the conflict to other important energy distribution routes. Persian GulfThis week, the Houthi paramilitary group from Yemen announced a naval blockade against the Saudi Arabia, increasing concerns about attacks in the region of Red Sea, an alternative used by producers to reach global markets. 

According to Reuters, three oil tankers carrying Saudi fuel destined for China turned back in the Red Sea, heading towards the Suez Canal, to avoid a possible Yemeni bombardment. 

This text was translated by machine from Brazilian Portuguese.